- Pepe’s price witnessed a modest increase of 0.52% in the last 24 hours.
- The memecoin’s daily trading volume showed a 9.57% increase as per CMC data.
This week, the crypto market has prolonged its weekend slump not showing much action in prices. Meanwhile, a shift in focus from cryptocurrency in the regulatory sector has further contributed to this slump. On the other hand, in the past day, Trump’s considering Teresa Goody Guillén has received market interest.
Despite the market slump, particular altcoins and especially the memecoin sector have seen several top performers this week. Frog-based memecoin PEPE has shown notable performance over the past week. In the last 24 hours, the cryptocurrency has shown a modest price increase of 0.52%.
In the Asian afternoon hours of November 19, PEPE was trading at $0.00002008, after which it progressed to an intra-day high of $0.00002118. Following this, it dipped to current levels once again docking at the $0.000020 level. At the time of writing, PEPE was trading at $0.00002028 as per CMC data.
Zooming out, over the past week, PEPE has shown a significant price increase of 57.85%. This price rally saw the memecoin break notable resistance levels at $0.000017 and $0.00002. In this week the cryptocurrency also hit a new ATH at $0.00002524.
Will PEPE Surpass Price Correction onto Another Rally?
On inferring its price movements PEPE, as aforementioned, seems to have entered a price correction, reflecting Bitcoin. The memecoin shows struggles to break resistance beyond $0.000026 after a recent price rally. However, when analyzing technical indicators, they show potential for upward movements.
Pepe’s bull power indicator value stands at 0.15, while its bear power indicator value stands at a low of -1.82. Additionally, according to TradingView data, its RSI stands at 70.55 indicating a slightly overbought situation in the market. These inferences suggest that the PEPE price could witness another rally in the coming days.
Meanwhile, other memecoins such as DOGE and SHIB have also shown upward movements. Recently, in the past day, BONK hit a new ATH and flipped dogwifhat in market cap, becoming the fourth largest altcoin.
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